ETF: Guggenheim Solar (TAN)
Assets: $149.3 million
Objective: Tracks the MAC Global Solar Energy Index, which owns 30 securities in the solar energy industry.
Holdings: Top names in the fund include First Solar (NASDAQ: FSLR), Meyer Burger Technology (NYSE: MBTN), Trina Solar (NYSE: TSL) and Suntech Power Holdings (NYSE: STP).
What You Should Know
- TAN is primarily a small- and mid-cap play, and gives a respective 56.9% and 33.2% of its weighting to the market caps. Just 9.9% is allocated to large caps.
- China, Germany and the United States are the largest holdings; all three countries account for 27% of the fund apiece.
The Latest News
- It’s been suggested that solar power is becoming more attractive than oil when it comes to running power plants in the Middle East. That’s because prices for solar are falling.
- Solar power producers in Germany agreed to subsidy cuts of as much as 15% in order to compensate for a solar energy boom that drove costs higher in the country.
- Panels are so popular in Germany that energy prices for those not using them have shot up sharply, says Monsters and Critics.
- Solar energy could be what solidifies relations between the United States and China. Oil prices have topped $90 a barrel, so cooperation on clean energy is becoming increasingly paramount, says Reuters.
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